Author Topic: Ford line workers could loose $1,000 in bonus because of tariffs  (Read 690 times)

Offline Polar Bear

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Ford line workers could loose $1,000 in bonus because of tariffs
« on: September 27, 2018, 05:19:02 PM »
Even though Ford Motor Company buys US steel and Aluminum by a whopping 95%, the Tariffs by Trump could cause FoMoCo to lose 1 Billion Dollars in profits.  Ford is planning to keep these losses in house instead of passing it on to the customers. 

The contract signed with the UAW states that for every million dollars the company makes, each worker receives a dollar bonus.

Ford is now paying higher metal costs because of the tariffs as the prices have gone up.  (The tariffs have caused prices for steel and other materials to rise, no matter where they're made.)

http://www.autonews.com/article/20180927/BLOG06/180929770/-1-billion-tariff-hit-would-mean-1000-hit-to-ford-workers

Offline Zef_66

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Re: Ford line workers could loose $1,000 in bonus because of tariffs
« Reply #1 on: September 28, 2018, 11:10:06 AM »
I work for a metal fabrication company. We saw steel prices rise within 24 hours of Trump announcing the tariffs. All domestic steel. Just because the competitor's prices were going up, they raised theirs too. Quite crappy to try to explain it to customers.